The Money Laundering Regulations 2007 (London)

New Money Laundering Regulations came into effect on 15 December 2007, replacing existing legislation. Two categories of Interim practitioners fall within the scope of the Regulations as members of the Regulated Sector:

• Those whose role includes providing accounting services (eg bookkeeping, preparation of accounts, profit/cash flow forecasts etc) and/or tax advice to their clients
• Those who operate as directors at their clients – including both those formally appointed, and those who are de facto or shadow directors within the Companies Act 2006 definition

For some of the above, these Regulations impose a legal requirement to register formally with HMRC as a member of the Regulated Sector, as a pre-condition of being allowed to continue in business as an Interim; and registration is not automatic – it includes a ‘fit and proper’ test. More generally, the Regulations oblige all members of the Regulated Sector to identify clients formally and monitor their transactions. And all members of the Regulated Sector are obliged to report suspicious transactions to the Serious Organised Crimes Agency under the Proceeds of Crime Act 2002 and/or the Terrorism Act 2000

If you are affected by the Regulations, turning a blind eye to them is not an option – if you get it wrong, you face both considerable reputational risk and the attentions of the regulatory authorities. Penalties include prison sentences and/or unlimited fines

This seminar will provide an overview of this regulatory regime, to give you an understanding of the obligations now imposed on you and the key actions and issues to be dealt with

Speakers

Tom Brass: Tom Brass is Deputy Chairman of the Institute of Interim Management, and a chartered accountant. He became an Interim manager in 1997, following some 25 years' experience as an accountant and consultant within a "Big 4" firm serving international clients. He takes a close interest in public affairs matters affecting Interims, including legislation and regulation emanating from both Brussels and Westminster, and has been following the progress of the Regulations into UK law since they began life in 2004 as the draft EU Third Money Laundering Directive. He writes regularly on Interim matters for the Institute’s electronic newsletter, InterIM Insight, and for other publications

Martin Eley: Following a career in financial services which included directorships in major national and international organisations, Martin Eley has been a successful independent interim practitioner for 7 years; having led and successfully delivered many innovative and high impact assignments. Martin has also been Chief Executive of a Public Corporation and directed major EU initiatives. He is committed to continuing professional and personal development, frequently attends and addresses business seminars, and is an active member of five professional institutes in addition to continuing to contribute to doctoral level academic research in collaborative management

Timing

There is a significant amount to be covered in the presentations, and, given that it directly affects every member of the audience personally, this event is expected to be highly interactive. Based on past experience, the session will take about two and a half hours to cover the ground adequately including due time for questions. The timing of the event will therefore be different to normal IIM events, as follows:

4.00 to 4.30pm Registration

4.30 to 7.00pm Presentations

7.00 to 8.15pm Reception, with drinks and canapés

Price

IIM Members £70 plus VAT (total £82.25); Non-IIM Members £90 plus VAT (total £105.75)

Bookings

Bookings can be made online by completing the form below, with payment by credit card or cheque (made payable to IOIM Ltd)

If you require a paper booking form, please email events@ioim.org.uk and one will be sent to you. Payment using this method can only be by cheque. (made payable to IOIM Ltd)

The booking deadline is 5.00pm Monday 18 February. Bookings made after this date will only be accepted at the discretion of the organisers

We regret that tickets cancelled after the booking deadline are non-refundable